Chrysler announces "Double CA$H For Your Old Car" promotion
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With Cash for Clunkers slated to go live on July 23, every automaker appears primed to grab a piece of the action. Chrysler is no different, and its new "Double CA$H For Your Old Car" incentive program promises up to match the government's $4,500 "Clunkers" incentive for some vehicles.
Taking $9,000 off the MSRP of the vehicle of your choosing sounds fantastic, but of course, the program isn't that easy. First, obviously, you'd need a vehicle that is eligible for the maximum $4,500 allowance under the government's Cash for Clunkers initiative. Then, you'd need to find a Chrysler, Dodge, or Jeep vehicle that has the maximum $4,500 in incentives. If you can fit both of those criteria, you will receive $9,000 off MSRP. Chrysler is also offering 0% financing for up to 72 months through GMAC as an alternative to cash incentives.
Chrysler's "Double CA$H For Your Old Car" program runs from July 23-August 31. Hit the jump to view Chrysler's press release. Unfortunately, the release doesn't contain any information pertaining to which vehicles are eligible for the full incentive of $4,500.
[Source: Chrysler]
PRESS RELEASE
Chrysler Group LLC Announces New "Double CA$H For Your Old Car" Incentive Program
- Every consumer shopping for a new vehicle qualifies
- Consumers can receive up to $4,500 for the purchase of an eligible, new 2009 Model Year Chrysler, Jeep® or Dodge vehicle
- Chrysler Group incentive is in addition to the U.S. Government "CARS" program. Consumers with an eligible trade-in under the CARS program can receive up to $9,000 towards the purchase of an eligible new Chrysler, Jeep or Dodge vehicle
"Everyone shopping for a new car or truck qualifies for an incentive of up to $4,500 – even if they don't have a vehicle that qualifies under the U.S. Government's program," said Steven Beahm, Vice President – Sales Operations, Chrysler Group LLC. "This incentive is great in that it's easy to understand and available to everyone."
Beginning July 23, 2009, Chrysler Group LLC will offer up to $4,500 Consumer Cash or 0 percent financing for 72 months through GMAC Financial Services on most 2009 model vehicles. These incentives are valid through August 31, 2009.
July 23, 2009 also marks the start of the U.S. Government's Car Allowance Rebate Systems (CARS) program, more commonly known as "cash for clunkers." The CARS program offers a government credit of either $3,500 or $4,500 for trading in an inefficient vehicle that is not more than 25 years old for the purchase of a new vehicle. The amount of the credit is determined based on the fuel-economy improvement between the turn-in vehicle and the new vehicle purchased.
"The administration's program is aimed at getting less fuel-efficient vehicles off the road, and for vehicles that meet the requirements, offers a great incentive to do so," Beahm said. "But we didn't want consumers without qualifying vehicles to feel left out so we are offering up to $4,500 to everyone."
Chrysler Group offers consumers 35 Chrysler, Jeep and Dodge vehicles from which to choose at almost 2,400 Chrysler, Jeep and Dodge dealerships located across the United States.
Reader Comments (Page 1 of 2)
Aznauto 10:34AM (7/22/2009)
You Chrysler's paying you money to take their clunker in return for your clunker.
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Zakspeed 10:38AM (7/22/2009)
Wow this is pathetic. Desperation i sense here
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Shamdiddly 10:40AM (7/22/2009)
Damn good time to buy a car.
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Alex 10:49AM (7/22/2009)
It is a good time to buy a car, but still no reason to buy a Chrysler.
Shamdiddly 12:52PM (7/22/2009)
To each his own.
mapoftazifosho 10:46AM (7/22/2009)
I really don't think Chrysler has a single vehicle that is eligible for the full $4500.
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nrb 10:52AM (7/22/2009)
You're not too far off. Looking at fueleconomy.gov, we could trade in our old SUV for a Sebring or PT Cruiser. That's it. If you're trading in a car, they have nothing.
Evan 10:47AM (7/22/2009)
"Chrysler is also offering 0% financing for up to 72 months"
Will a Chrysler even last six years?
Joking aside, isn't debt from ridiculously long and low-rate mortgages and loans what got us in this mess? If you need 72 months to pay off a new car, you shouldn't be buying a new car!
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UltimoDragon 1:11PM (7/22/2009)
New car dealers like those long finance deals so they can steer folks toward higher margin vehicles while touting the 'low' monthly price. It's not so bad as a buyer if you know you're going to keep the vehicle that long. Of course there's always the prospect of going upside-down in such loans.
At the very least, car makers should boost the full factory warranty for those who'd choose to finance a car for 72 months. A full six years or the first 60,000 miles, along with (in Chrysler's case) a lifetime powertrain warranty. Make it worth their while to stick it out with the car.
mact 10:52AM (7/22/2009)
0% for 72 months? You gotta ask yourself is the car going to even last that long.
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Mike 11:01AM (7/22/2009)
chrysler's absolute best vehicle is 26mpg combined(23/31, an improvement over last years 21/30), so you'd have to be driving something that got 16mpg before.. pretty limited there.
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JohnV 11:59AM (7/22/2009)
Sort of....
Only if you are buying a car do you need a 10mpg jump - if you are buying a Light duty truck (aka. PT Cruiser, Dodge Magnum, Dakota, Ram, Caravan etc.) you only require a 5 Mpg increase - if you own any SUV from 1990s to 2000s you will easily get that.
Greg Aryous 10:57AM (7/22/2009)
Your US Gov't Tax Dollars at work... what a pathetic bunch of BS from Chrysler. As if this is profitable. They should have gone OUT OF BUSINESS!
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Tim 10:59AM (7/22/2009)
So owners with an old dodge ram can get a new minivan or large car or something.
Explain how this stimulates the economy when the taxpayer foots the bill to replace a running vehicle? It simply pushes a vehicle purchase to today at the expense of a sale tomorrow.
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Mike 11:03AM (7/22/2009)
Just noticed this on cars.gov
"The program requires the scrapping of your eligible trade-in vehicle, and that the dealer disclose to you an estimate of the scrap value of your trade-in. The scrap value, however minimal, will be in addition to the rebate, and not in place of the rebate."
So there's another $100 or so to be had for the scrap value on top of the $3500/$4500?
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Brian 11:17AM (7/22/2009)
Thanks Obama, for stealing our tax money so a failed brand can prop up its Caliber and Sebring sales!
I hope the public never forgives Chrysler for sucking at the federal teat.
They need to be liquidated. Chapter 7. Now.
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Joe Btfsplk 11:26AM (7/22/2009)
Chrysler is not in the car business anymore, the UAW is in the car business. The cars that they are building are not saleable in any economy, so the 0bama cabal must subsidize them with borrowed funds.
Venom 11:28AM (7/22/2009)
Does that mean I can count on your for support in getting my tax money back for the Iraq war?
Brian 11:31AM (7/22/2009)
Venom at least national defense is a proper role of government. Propping up failed companies like Chrysler, GM, and Ford isn't. And Chrysler really isn't even a "domestic" anymore, even in the loose sense of the term.
Venom 11:48AM (7/22/2009)
National defense from who?
Last time I checked both parties agreed that Iraq had no weapons of mass destruction and I don't recall them threatening us so where was the need for defense?
In case you did not know, the actual country that did threaten us repeatedly and was ignored was N. Korea.
I would think that the preserving of thousands of jobs, American jobs for American people and one of the largest and oldest corporations in this country's history may be the job of the President and the government of the country.